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Income Tax - Frequently Asked Questions (FAQs) |
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FAQs on Exemption available from Capital gains |
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Which new asset should be acquired for claiming exemption under section 54? |
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Ans. Exemption under this section can be claimed if the capital gain amount is invested for the purchase or construction of a residential house property. However, the exemption is allowed only if such new house property is situated in India. |
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